Arbitrage is a trading style which needs lots of time and experience. It is not that you can not set up your tool or bot.
Arbitrage is basically utilizing profit of the difference between the price offered by different exchanges. That is you buy at exchange where the price is low and sell at the exchange where the price is high. Here there is a transaction fee involved while transporting from one exchange to another. Also, in a highly volatile market till your funds reach the other exchange the opportunity might be missed.
There are traders that do use this trading and book profit but, it is not easy i.e., it is not easily arranged on a plate. It needs practice and peace of mind.